Month: May 2016

TOYOTA Tsusho Corp. wants to increase its stake in Sarangani Energy Corp. (SEC), a unit of Alsons Consolidated Resources Inc. (ACR), the publicly listed company of the Alcantara group. It currently holds a 25-percent stake in SEC, operator of the 210-megawatt (MW) coal plant in Maasim, Sarangani. Read more here. Advertisements

Incoming President Rodrigo Duterte warned local power companies he would open the market to foreign firms to bring cheap and stable power supply to the country if the local utilities didn’t shape up and deliver better services to consumers. Duterte said opening the country’s power sector to foreign investors would be more beneficial to consumers…

Philippine Long Distance Telephone Co. (PLDT) is in talks with Metro Pacific Investments Corp. (MPIC) as it looks to unload its shares in power utility giant Manila Electric Co. (Meralco) to reduce debts and support capital expenditures. Meralco is owned directly by two major stockholder groups: Beacon Electric Asset Holdings Inc. and JG Summit Holdings…

The ERC has expressed confidence the NGCP will push through with its commitment to back the system audit of the country’s power grid system. The audit aims to assess how NGCP is operating the grid, how it is maintaining the reliability of the country’s transmission system, and how its operations comply with regulations concerning the wholesale…

Oil prices decreased in Asia Friday, pulling back further from the psychological $50 level as traders took profit and expectations of tighter global supply receded. US benchmark West Texas Intermediate for July delivery was down 32 cents at $49.16 a barrel while Brent North Sea crude, the European standard, was 33 cents lower at $49.26. Read…

Metro Pacific Investments Corp. (MPIC) will acquire a 56 percent stake in tycoon George Ty’s power generation arm Global Business Power Corp. for P22.06 billion as part of the strategic alliance formed by the Pangilinan-led group and the Ty family. Global Power is the leading power supplier in Visayas with an aggregate 852 megawatts of…

Alsons Consolidated Resources Inc. (ACR), a publicly-listed power holding company of the Alcantara Group, is aiming to start the construction this year of three major power plants in Mindanao; i.e., the second 105-megawatt (MW) section of the 210-MW Sarangani Energy Corp. (SEC) coal-fired power plant in Maasim, Sarangani; the 15-MW Siguil River run-of-river hydroelectric plant…

The global renewable energy sector employed more than 8.1 million people last year, a 5 percent increase, the Abu Dhabi-based renewable energy agency IRENA said in its annual report. This rise was attributed to falling technology costs and more accommodating energy policies. Read more here. Advertisements

Meralco declared it is fully prepared for the La Niña weather phenomenon expected later this year as it has boosted investments in its distribution facilities, the company said on Thursday. This comes after the ERC last week approved the company’s P15.47-billion capital expenditure (capex) program for 2016. Read more here. Advertisements

San Miguel Corp. (SMC) is shunning coal-fired power plants and will instead continue to invest in “clean coal” technology, its top official said yesterday. The so-called clean coal uses the circulating fluidized bed (CFB) technology that has the ability to achieve lower emission of pollutants. Read more here. Advertisements